Short Interest in Waldencast plc (NASDAQ:WALD) Drops By 35.1%

Waldencast plc (NASDAQ:WALD) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 439,900 shares, a decrease of 35.1% from the October 31st total of 678,200 shares. Based on an average daily volume of 210,100 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.9% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WALD shares. Telsey Advisory Group restated an “outperform” rating and set a $6.00 target price on shares of Waldencast in a research report on Monday, November 18th. DA Davidson raised their price target on Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Canaccord Genuity Group started coverage on Waldencast in a research report on Friday, October 25th. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Canaccord Genuity Group increased their target price on Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd.

Waldencast Price Performance

Shares of NASDAQ:WALD opened at $3.29 on Friday. The firm’s 50 day simple moving average is $3.51 and its 200-day simple moving average is $3.61. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. Waldencast has a one year low of $2.40 and a one year high of $12.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Waldencast in the 2nd quarter worth $239,000. Marshall Wace LLP purchased a new stake in Waldencast in the second quarter worth about $37,000. Cubist Systematic Strategies LLC purchased a new stake in Waldencast in the second quarter worth about $85,000. Simplicity Wealth LLC grew its holdings in Waldencast by 416.2% during the 3rd quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock worth $281,000 after acquiring an additional 62,148 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its position in Waldencast by 75.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock valued at $96,000 after purchasing an additional 11,288 shares during the period. Institutional investors own 41.97% of the company’s stock.

About Waldencast

Waldencast plc operates in the beauty and wellness business. The company engages in developing, acquiring, accelerating, and scaling various brands. It provides cosmetic, over-the-counter, and prescription products under the Obagi Medical, Obagi Clinical, and Obagi Professional brands; and a Skintrinsiq device for use in facial treatments that is used by physicians' offices, spas, and aestheticians.